Activist investor Ryan Cohen plans to sell his shares of Bed Bath & Beyond after taking a stake earlier this year and agitating for change at the home goods retailer.
Cohen’s investment firm, RC Ventures, indicated in a securities filing that it plans to sell all roughly 9.5 million shares in Bed Bath & Beyond (about 11.8% of the company’s outstanding shares) that it had acquired between mid-January and early March of this year.
On taking a stake, Cohen — who founded the online pet retailer Chewy and has taken on the chairman role at GameStop after launching an activist investor campaign at that company — called the retailer’s turnaround strategy “scattershot.”
Source: Retail Dive
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